New York, January 26, 2026, 18:46 EST — After-hours
Lam Research (LRCX) shares were up 2.3% at $222.87 in late after-hours trading on Monday after Evercore ISI lifted its price target to $241 from $170 and reiterated an Outperform rating.
The move comes with Lam due to report its December-quarter results on Wednesday, a print that often resets expectations for spending on chipmaking tools. Lam said it will host its quarterly call and webcast on Jan. 28.
Lam, a key supplier of wafer fab tools — the machines that etch and deposit layers on silicon wafers to make chips — ended Monday’s regular session up 2.26% and snapped a two-day losing streak. The stock has also lagged its recent 52-week high, even after outpacing peer Applied Materials on the day.
Evercore ISI analyst Mark Lipacis raised the target in a note dated Monday, StreetInsider reported.
The stock swung widely during the session, dipping early before pushing back toward the top of its daily range. Volume was in line with recent trading, but not heavy.
What matters now is whether Lam’s results and outlook validate the run-up into earnings for chip-equipment names. Investors tend to read the company’s order commentary as a proxy for foundry and memory spending tied to AI-related chips.
Lam last set its revenue and profit expectations for the quarter ending Dec. 28 in October, forecasting revenue of $5.20 billion, plus or minus $300 million, and adjusted profit of $1.15 per share, plus or minus 10 cents, Reuters reported.
Traders will also listen for any change in tone on customer budgets, delivery timing and gross margin, which can swing on product mix and factory utilization. In plain terms: how fast the tools ship, and how much money Lam makes on each one.
The risk is the usual one for a stock sitting near recent highs: any cautious guidance, or signs customers are stretching out purchases, can trigger a quick pullback. Policy and export restrictions remain an overhang for parts of the chip supply chain, and demand can shift fast when customers tweak capital spending.
Lam is scheduled to host its earnings conference call at 2 p.m. Pacific (5 p.m. Eastern) on Wednesday, Jan. 28, according to its events calendar.
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